About this pair
MYR/CNY: what to know
The MYR/CNY rate shows how much CNY you get for 1 MYR. Right now, 1 MYR buys 1.6481 CNY at the mid-market rate. In the other direction, 1 CNY is worth 0.6068 MYR.
In the short term MYR is driven mainly by commodity prices and regional demand, while CNY responds to PBoC decisions and Chinese growth.
The Malaysian Ringgit (MYR) is issued by Bank Negara Malaysia. “Ringgit” means “jagged”, after the milled edges of old Spanish silver dollars. The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.